The South Korean government on Dec. 1 will begin providing tax breaks of up to $3,600 for buyers of electric vehicles. The Ministry of Knowledge Economy says all EV buyers will receive a 5% reduction in the consumption tax, a 12% cut in the education tax and other discounts up to 20%. Every Korean auto maker is developing EVs, and the government has set a production target of 1 million units by 2020, with 70% of them earmarked for export. The vehicles are expected to generate 40 ...
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